Price Discrimination Can Benefit Some Consumers When

question 81

Multiple Choice

Price discrimination can benefit some consumers when

• A)the additional profit realized by the monopolist equals the cost incurred
• B)the government comes in to regulate the market
• C)competitors are also able to price discriminate
• D)those consumers pay a price lower than the price they would have to pay a single-price monopolist
• E)those consumers pay a price higher than the price they would have to pay a single-price monopolist

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Definitions:

International Specializations

The phenomenon where countries focus on the production and export of goods and services that they can produce efficiently and trade for what they cannot produce as efficiently.

Petroleum Industry

An industry that deals with the exploration, extraction, refining, transporting, and marketing of petroleum products.

Intensive Crop Cultivation

A farming practice that aims to maximize agricultural output per acre through the use of modern agricultural techniques and inputs like fertilizers, pesticides, and irrigation.

Plows

Agricultural tools used for tilling the soil, preparing it for sowing seeds by turning over the upper layer.